Massachusetts-based insurer The Hanover Insurance Group Inc. saw fourth-quarter profits jump 68 percent to $57.3 million, up from $34.1 million in the year-ago quarter. For the year, net income was $197.2 million, up from $20.6 in 2008, when The Hanover’s …
The U.S. House of Representatives will vote next week on repealing the antitrust exemption for health insurers, but Democrats remained uncertain Tuesday on how to proceed on a broader healthcare overhaul. Senate Democratic leader Harry Reid and House Speaker Nancy …
A.M. Best Co. has commented that the financial strength ratings (FSR) of ‘A-‘ (Excellent) and issuer credit ratings (ICR) of “a-” of the New York-based Tower Group Companies, its pooled members and Bermuda-based CastlePoint Reinsurance Company Limited are unchanged. Best …
Massachusetts-based OneBeacon Insurance Group has agreed to sell its personal lines business to Tower Group Inc. in a deal that comprises two affiliate insurers and two reciprocal insurance exchanges in New York and New Jersey. The agreement calls for New …
A.M. Best Co. has placed the financial strength ratings of ‘A’ (Excellent) and issuer credit ratings of “a” of Massachusetts Homeland Insurance Company and York Insurance Company of Maine under review with negative implications. Best took the rating actions following …
The Obama administration’s latest spending plan calls for modest changes to the U.S. health care system but does little to incorporate sweeping moves called for Democrats’ larger plan to increase access and cuts costs. In releasing his fiscal 2011 budget …
Workers’ compensation costs per claim for medical care of injured workers in Illinois were among the highest of 15 study states one year after implementation of its first medical fee schedule effective 2006, according to a new study by the …
An 82-year-old Massachusetts woman struck by a fire hose that had come loose from a Cambridge fire engine that was responding to call has died. Cambridge police says Gertrude King died Thursday morning at Massachusetts General Hospital, two days after …
United Property & Casualty Insurance Co. in Florida said it is seeking approval to write homeowners insurance in Massachusetts, Connecticut, Rhode Island, New York, North Carolina, South Carolina and New Jersey. The company, which opened for business in 1999, currently …
The Main Street America Group launched its new Main Line Business Owners Policy (BOP) property and liability product. The insurer also launched Main Street Station for commercial lines quoting and policy issuance system in Maine, Rhode Island, Vermont and South …
